Medical, pharma firms to invest in PH ecozones – PEZA
Several foreign medical and pharmaceutical companies are expected to invest and build centers in the country’s economic zones, said Philippine Economic Zone Authority (PEZA) Director-General Charito Plaza.
In an interview with ANC, Plaza said that they launched the first pharmaceutical ecozone in the country called the First Bulacan Business Park due to the influx of healthcare investments.
The Director-General disclosed that one foreign firm is poised to invest P571 million (approximately US$11.3 million) in the country. In addition, pharmaceutical companies from Israel and India are waiting for the approval of their permits.
PEZA has recorded a 5.31% increase in foreign investments and a 21.636% growth in export income for the first half of 2021 despite the pandemic. The local hiring activity has also recovered to 1.6 million compared to last year’s 1.4 million.
Plaza stated that they are planning to develop areas nationwide to attract “all industries in the world” as they open 417 ecozones in the Philippines.
